Craigs Pets succeeded so well that Craig decided to manufacture his own brand of chewing boneOrganic Bones.

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Craig€™s Pets succeeded so well that Craig decided to manufacture his own brand of chewing bone€”Organic Bones. At the end of December 2012, his accounting records showed the following:

Ending Inventorics: Beginning $ 13,200 Materials 7,000 Work in process Finished goods 4,000 5,800 Other information: $ 3

Requirements
1. Prepare a schedule of cost of goods manufactured for Organic Bones for the year ended December 31, 2012.
2. Prepare an income statement for Organic Bones for the year ended December 31, 2012.
3. How does the format of the income statement for Organic Bones differ from the income statement of a merchandiser?
4. Organic Bones manufactured 15,400 units of its product in 2012. Compute the company€™s unit product cost for theyear.

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Related Book For  answer-question

Financial and Managerial Accounting

ISBN: 978-0132497978

3rd Edition

Authors: Horngren, Harrison, Oliver

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